January 14 (Renewables Now) - The European Bank for Reconstruction and Development (EBRD) announced on Thursday that its total annual bank investment (ABI) has reached EUR 10.4 billion (USD 11.9bn) in 2021 and that green economy investments accounted for more than half of the total.

Specifically, last year’s green financing amounted to EUR 5.4 billion, which accounts for a record 51% of the entire sum compared to a share of 29% in 2020. The green results fall under the EBRD’s Green Economy Transition (GET) approach, the bank noted.

The overall annual business volume was the EBRD’s second-highest ever after spending EUR 11 billion in 2020, when emergency lending was required due to the start of the COVID-19 pandemic.

In 2021, the bank supported 413 projects, two more than in 2020. The share of private sector investment increased four percentage points to 76%.

(EUR 1.0 = USD 1.147)

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